clsa

Search advertising revenues doubled last year , says CLSA .

里昂证券（CLSA）指出，去年搜索广告收入翻了一番。

However , CLSA makes the point that consensus earnings estimates are too low .

但里昂证券认为，市场对收益的普遍预期过低。

In 2008 , 18,000 new flats were bought , according to CLSA .

而里昂证券的数据显示，2008年，售出的新公寓达到了1.8万套。

Only a third of Chinese households have broadband connections , say brokerage CLSA data .

券商里昂证券（CLSA）的数据显示，只有三分之一的中国家庭有宽带连接。

The loan-to-deposit ratio for Chinese banks is about 68 per cent , according to CLSA .

里昂证券表示，目前中国银行业的贷存比约为68%。

CLSA economists forecast a 11 per cent decline in Taiwan 's GDP this year .

里昂证券的经济学家预测，台湾GDP今年将下滑11%。

Currently , just three companies control 65 % of the private residential market , according to brokerage CLSA .

据经纪公司里昂证券（CLSA）统计，香港目前65%的私人住宅市场控制在三家房地产公司手中。

Alibaba dominates Chinese e-commerce , with about 80 % of the market last year , according to CLSA Research .

据CLSAResearch，阿里巴巴是中国电子商务市场中的龙头老大，去年的市场占有率大约80%。

China accounts for 70 per cent of global coal mining deaths , according to CLSA , the brokerage .

据券商里昂证券（CLSA）估算，中国的煤矿事故死亡人数占全球总数的70%。

CLSA , the equities-focused house , made more than 20 people redundant last month .

着重股票业务的里昂证券（CLSA）上月则裁减了超过20名员工。

About three quarters of Chinese urban middle class families have credit cards , according to a CLSA survey in 2011 .

据里昂证券（CLSA）2011年进行的一项调查显示，中国城市中产阶级家庭中约有四分之三有信用卡。

This consolidation is partly why panel prices stabilized last year , says CLSA 's Charles Yonts .

里昂证券（亚洲）（CLSA）的CharlesYonts表示，这种行业整合就是去年光伏面板价格企稳的一个原因。

According to the CLSA brokerage , 11 are listed entities so ordinary shareholders suffer too .

据里昂证券（clsa）介绍，其中11家是上市实体，因此普通股民也会蒙受损失。

According to CLSA , total broking commissions in China 's A-share market last year exceeded $ 20bn .

据里昂证券称，去年一年，中国A股市场的经纪佣金总额已逾220亿美元。

Andy Rothman is the Shanghai-based China macro strategist for CLSA Asia-Pacific Markets

本文作者是里昂证券（CLSA）亚太市场部驻上海中国宏观策略师

A survey by brokerage firm CLSA showed employment and output fell at a record clip in Chinese factories in December .

里昂证券（亚洲）（CLSA）的调查数据显示，12月中国制造业的就业和产值出现了历史性降幅。

Brokerage CLSA estimates 200 million Chinese will venture abroad annually by 2020 , double the 100 million in 2013 .

里昂证券（亚洲）（CLSA）预计，到2020年每年出境的中国人将达2亿人次，较2013年的1亿人次增加一倍。

As a result , four-fifths of the market is controlled by five big property companies , according to CLSA , the brokerage .

结果，据券商里昂证券（CLSA）表示，香港五分之四的市场被五大地产公司所控制。

There is room for more : relative to their population , Chinese still travel overseas far less than their neighbours , according to CLSA research .

而且，中国出境游还有增长空间：里昂证券（CLSA）的研究显示，相对于总人口而言，中国的出境游人次仍然远低于邻国。

There is no reason to panic , said Andy Rothman , economist at CLSA .

没有理由惊慌，里昂证券经济学家安迪·罗斯曼（ANDYROTHMAN）表示。

For CLSA , the deal has the potential to catapult its fortunes on the mainland .

对里昂证券而言，此笔交易有可能让它在中国内地获得重大发展。

That " amounts to de facto interest rate liberalisation , " notes Chris Wood of CLSA in Hong Kong .

香港里昂证券（CLSA）分析师克里斯？伍德（ChrisWood）指出，这“事实上相当于利率自由化”。

Avi silver , CLSA : curbing our enthusiasm .

里昂证券（CLSA）分析师艾维•席尔瓦：我们的热情有所减退。

Andrew Hartley , Singapore country head for CLSA , the broker , says nationalist sentiment within ASEAN would also make consolidation difficult .

经纪公司里昂证券（clsa）新加坡主管安德鲁哈特利（andrewhartley）表示，东盟内部的民粹主义情绪也加大了整合难度。

The financing division will target companies with turnover of up to $ 1bn and typically focus on those covered by CLSA analysts .

该信贷子公司的业务目标，是那些营业额10亿美元以内的企业，并会特别关注那些里昂证券分析师们进行评估的公司。

Yesterday 's CLSA purchasing managers index for China , like the official survey last week , showed a sharp rise to bring Chinese manufacturing back into expansion mode .

昨日公布的里昂证券（CLSA）中国采购经理人指数，与上周的官方调查一样，显示大幅上升，表明中国制造活动重新进入扩张状态。

Dividends have been gaining popularity among Asian companies in recent years , according to analysts at CLSA , the Asia-Pacific-focused brokerage .

专注于亚太地区的经纪商里昂证券（CLSA）的分析师表示，近些年来，亚洲企业派发股息变得越来越普遍。

He cites a leading indicator of manufacturing production compiled by CLSA which shows a small rise in February , for the third consecutive month .

他援引里昂证券编制的一项制造业先行指标作为证据。该指标2月份小幅上涨，为连续第三个月上升。

CLSA was acting as financial adviser to JCDecaux , but Mr Lam was not directly involved in the transaction .

当时里昂证券担任德高贝登的财务顾问，但林嘉辉并未直接参与交易。

CLSA and Euromonitor data suggest a tight correlation between expansion of this socio-economic group across the region and increased disposable nappy adoption .

里昂证券和欧睿（Euromonitor）的数据显示，整个亚洲这一社会经济群体的扩大与一次性纸尿裤的使用量增加之间存在紧密关联。